(Motorsports news) As is already widely known, Liberty Media has been a major factor in Formula One’s significant global growth, with the Netflix series Drive to Survive serving as a catalyst for this growth. In order to tilt the scales toward three annual US rounds, the American owners have placed a special emphasis on taking use of their enormous, unexplored home market. This weekend’s return of the Las Vegas Grand Prix and races in Miami have been added.

In the hour-long documentary Inside Track: The Business of Formula 1, American business channel CNBC has revealed how F1 is capitalizing on its “moment” in the United States and where it might go from here, ahead of Vegas’ historic spectacular. “This sport has grown and surged in popularity ever since the takeover of Liberty Media six years ago, especially in the United States,” CNBC business reporter and documentary anchor Sara Eisen said in an interview.

Teams are now valued at billions of dollars, something we have never seen before. Since CNBC focuses primarily on financial matters, I decided to examine the F1 business model, how the sport has expanded, especially in America, and the inner workings of the teams. “After adding Miami the previous year, Vegas now serves as a symbol of the national expansion of the sport and the achievements made by Liberty Media with regard to F1. That’s the reason the documentary was released in conjunction with the Las Vegas Grand Prix.”

In order to address the major players in the sport, such as team owners Toto Wolff, Zak Brown, and Christian Horner, as well as Liberty Media CEO Greg Maffei and F1 CEO Stefano Domenicali, Eisen traveled to several Formula One events. Eisen considered F1 teams to be relatively similar to the typical businesses that CNBC covers, given that they have developed into organizations that may easily employ over 1,000 people.

“What surprised me is that in speaking with Zak Brown and Toto Wolf and Christian Horner and Guenther Steiner, all of those team principals, they’re CEOs and they run their companies like global businesses, just like I talked to CEOs of Coca Cola or Bank of America on CNBC,” she stated. “If you’re looking for development opportunities, I believe that bigger, bolder events like Vegas—which draw more corporations and fans—are the best options. There’s space for improvement there.

We don’t operate at the same mainstream levels as the NFL or NBA. And that’s where the Liberty people believe there’s plenty of room to grow, to attract new fans, including women, younger fans, and fans from a wider range of backgrounds. If they succeed in doing so, they will be able to negotiate better television arrangements, which will allow the races to grow into more elaborate events. And that’s the path to development.”

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